Zacks Investment Research downgraded shares of PRGX Global, Inc. (NASDAQ:PRGX) from a buy rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “PRGX Global, Inc., formerly PRG-Schultz International, Inc., provides audit, analytics, and advisory services in order to improve client financial performance. The Company’s recovery audit services comprise taking client transaction data, transforming it for analysis, identification of errors, and working with vendors or providers to recover overpaid cash. It audits merchandise purchases, accounts payable, lease and property payments, telecom, freight, marketing and media expenses, taxes, import duties, and healthcare claims. The Company’s analytics services include fraud detection and prevention services, such as detecting, deterring, and preventing fraud; custom analytics services, including discovering the value of unstructured data; benchmarking services; and spend analytic services. Its advisory services consist of working capital optimization, enterprise cost reduction, finance transformation, and corporate performance management. The Company is headquartered in Atlanta, Georgia. “
Separately, B. Riley set a $8.00 price target on PRGX Global and gave the company a buy rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. PRGX Global presently has an average rating of Buy and a consensus target price of $7.00.
Shares of PRGX Global (PRGX) traded up $0.10 on Thursday, reaching $7.25. The company’s stock had a trading volume of 36,200 shares, compared to its average volume of 27,841. PRGX Global has a 12-month low of $4.85 and a 12-month high of $7.75. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.25.
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In other news, Director Matthew A. Drapkin acquired 37,370 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average price of $6.35 per share, for a total transaction of $237,299.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have bought 64,508 shares of company stock valued at $408,206. Corporate insiders own 14.96% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRGX. Thomson Horstmann & Bryant Inc. bought a new stake in shares of PRGX Global during the second quarter valued at approximately $2,426,000. Northern Right Capital Management L.P. grew its holdings in PRGX Global by 13.0% during the second quarter. Northern Right Capital Management L.P. now owns 1,507,806 shares of the business services provider’s stock worth $9,801,000 after buying an additional 173,222 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in PRGX Global by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 726,299 shares of the business services provider’s stock worth $4,721,000 after buying an additional 34,620 shares in the last quarter. Renaissance Technologies LLC grew its holdings in PRGX Global by 1.0% during the first quarter. Renaissance Technologies LLC now owns 1,667,810 shares of the business services provider’s stock worth $10,674,000 after buying an additional 17,320 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in PRGX Global by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,183,504 shares of the business services provider’s stock worth $7,574,000 after buying an additional 13,531 shares in the last quarter. Hedge funds and other institutional investors own 71.00% of the company’s stock.
PRGX Global Company Profile
PRGX Global, Inc (PRGX), together with its subsidiaries, provides recovery audit and spend analytics services. The Company provides recovery audit, procure-to-pay performance improvement, spend analytics and risk management services principally to large businesses and government agencies. The Company operates through three segments: Recovery Audit Services-Americas, Recovery Audit Services-Europe/Asia-Pacific and Adjacent Services.
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